jw01
Posts: 62 
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Post by jw01 on Apr 29, 2017 14:48:02 GMT
I have a 3 year fixed cash ISA which expires in May 2018.
I could transfer this to an IFISA this year but I would lose 120 days interest on it and, as it is a reasonable rate, I would prefer to let it run to maturity.
My question is, what happens then?
Is it possible to transfer the final sum to an IFISA on maturity rather than paid back to me?
Does anyone have any experience of this?
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archie
Posts: 1,866
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Post by archie on Apr 29, 2017 14:57:05 GMT
I have a 3 year fixed cash ISA which expires in May 2018. I could transfer this to an IFISA this year but I would lose 120 days interest on it and, as it is a reasonable rate, I would prefer to let it run to maturity. My question is, what happens then? Is it possible to transfer the final sum to an IFISA on maturity rather than paid back to me? Does anyone have any experience of this? If it's paid back to you the ISA wrapper will be lost. They usually roll over into another account paying little interest until you reinvest with your current provider or transfer elsewhere. Wait until it matures and then transfer to IFISA.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Apr 29, 2017 14:57:34 GMT
When your ISA approaches maturity your current provider will not want to lose your money so will probably offer you a choice of new deals for a continuation ISA. At this stage you can instruct a new IF ISA platform to arrange a transfer at maturation time. Should be quite straightforward. archie SNAP!  |
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jw01
Posts: 62
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Post by jw01 on Apr 30, 2017 15:04:44 GMT
Thanks both for the stereo reply!
I'd forgotten that option.
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